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To: Dealer who wrote (30518)	8/25/2000 8:47:46 AM
From: Dealer	Read Replies (1) \| Respond to of 35685

<font color=BLUE>MARKET SNAPSHOT--gird for steady open Futures markets erase earlier gains By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:42 AM ET Aug 25, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - The broad market is readying for an open on the flat side Friday while bonds prices weakened, with losses concentrated in the long end of the yield curve. September S&P 500 futures lost 0.70 point and were trading roughly 0.70 point above fair value, according to figures provided by HL Camp & Co. Nasdaq futures, meanwhile, added 2.00 points, or 0.1 percent. On the economic front, second-quarter gross domestic product was downwardly revised to show a growth rate of 5.3 percent form the previously reported 5.2 percent. Still ahead is the release of July existing home sales, expected to come in at a 5.13 million rate. View Economic Preview, economic calendar and forecasts and historical economic data. Additionally, Fed chief Alan Greenspan will address the topic of global economic integration from a Fed conference in Jackson Hole, Wyoming. Separately, Trim Tabs reported that equities had inflows of $5.6 billion in the week ended Aug. 23 versus inflows of $600 million in the previous week. Equity funds investing primarily in U.S. stocks saw inflows of $5.6 billion vs. inflows of $1.1 billion in the previous week, Trim Tabs said. In earnings news, Sycamore Networks (SCMR: news, msgs) posted late Thursday fourth-quarter earnings of 8 cents a share, surpassing the First Call estimate by 2 cents. The maker of optical networking products generated revenue of $90.4 million compared to $59.2 million in the year-ago quarter. The stock ended off 1 7/8 to 158 on Thursday. In shares trading before official start of trading, SDL slipped 7 7/8 to 404 in pre-market trading over the Island ECN. See Indications. Antitrust regulators asked JDS Uniphase (JDSU: news, msgs) and SDL (SDLI: news, msgs) to provide more information on their proposed $44 billion merger, which was announced on July 10 and is expected to be completed in the fourth quarter. Both companies said they intend to fully respond to the request by the Justice Department antitrust division. See full story. Over in the bond market, prices slipped, with the 10-year Treasury note off 5/32 to yield ($TNX: news, msgs) 5.74 percent and the 30-year bond down 1/2 to yield ($TYX: news, msgs) 5.69 percent. See Bond Report. In the currency arena, dollar/yen (C_JPY: news, msgs) added 0.1 percent to 106.95 while euro/dollar (C_EUR: news, msgs) edged up 0.1 percent to 0.9020. Julie Rannazzisi is markets editor for CBS.MarketWatch.com.